The Use Of Data In Assessing And Designing Insolvency Systems

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The Use of Data in Assessing and Designing Insolvency Systems

José Garrido,Mr.Wolfgang Bergthaler,Ms.Chanda M DeLong,Juliet Johnson,Amira Rasekh,Anjum Rosha,Natalia Stetsenko
The Use of Data in Assessing and Designing Insolvency Systems Book PDF

Author : José Garrido,Mr.Wolfgang Bergthaler,Ms.Chanda M DeLong,Juliet Johnson,Amira Rasekh,Anjum Rosha,Natalia Stetsenko
Publisher : International Monetary Fund
Page : 44 pages
File Size : 48,9 Mb
Release : 2019-02-04
Category : Business & Economics
ISBN : 9781484396223

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The Use of Data in Assessing and Designing Insolvency Systems by José Garrido,Mr.Wolfgang Bergthaler,Ms.Chanda M DeLong,Juliet Johnson,Amira Rasekh,Anjum Rosha,Natalia Stetsenko Pdf

To date, the use of empirical data in insolvency law analysis has been sporadic. This paper provides a conceptual framework for the use of data to assess the effectiveness and efficiency of insolvency systems. The paper analyzes the existing sources of data on insolvency proceedings, including general insolvency statistics, judicial statistics, statistics of insolvency regulators and other sources, and advocates for the design of special data collection mechanisms and statistics to conduct detailed assessments of insolvency systems and to assist in the design of legal reforms.

The Use of Data in Assessing and Designing Insolvency Systems

José Garrido,Mr.Wolfgang Bergthaler,Ms.Chanda M DeLong,Juliet Johnson,Amira Rasekh,Anjum Rosha,Natalia Stetsenko
The Use of Data in Assessing and Designing Insolvency Systems Book PDF

Author : José Garrido,Mr.Wolfgang Bergthaler,Ms.Chanda M DeLong,Juliet Johnson,Amira Rasekh,Anjum Rosha,Natalia Stetsenko
Publisher : International Monetary Fund
Page : 44 pages
File Size : 41,7 Mb
Release : 2019-02-04
Category : Business & Economics
ISBN : 9781498300964

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The Use of Data in Assessing and Designing Insolvency Systems by José Garrido,Mr.Wolfgang Bergthaler,Ms.Chanda M DeLong,Juliet Johnson,Amira Rasekh,Anjum Rosha,Natalia Stetsenko Pdf

To date, the use of empirical data in insolvency law analysis has been sporadic. This paper provides a conceptual framework for the use of data to assess the effectiveness and efficiency of insolvency systems. The paper analyzes the existing sources of data on insolvency proceedings, including general insolvency statistics, judicial statistics, statistics of insolvency regulators and other sources, and advocates for the design of special data collection mechanisms and statistics to conduct detailed assessments of insolvency systems and to assist in the design of legal reforms.

Restructuring and Insolvency in Europe: Policy Options in the Implementation of the EU Directive

Jose M Garrido,Ms. Chanda M DeLong,Amira Rasekh,Anjum Rosha
Restructuring and Insolvency in Europe Policy Options in the Implementation of the EU Directive Book PDF

Author : Jose M Garrido,Ms. Chanda M DeLong,Amira Rasekh,Anjum Rosha
Publisher : International Monetary Fund
Page : 53 pages
File Size : 54,6 Mb
Release : 2021-05-27
Category : Business & Economics
ISBN : 9781513573595

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Restructuring and Insolvency in Europe: Policy Options in the Implementation of the EU Directive by Jose M Garrido,Ms. Chanda M DeLong,Amira Rasekh,Anjum Rosha Pdf

The Directive on Restructuring and Insolvency sets minimum standards for restructuring and certain insolvency matters, but its harmonization effect will be limited given multiple options for implementation, likely leading to divergent restructuring models in Europe. These options reveal different policy approaches to the regulation of restructuring and insolvency. The analysis in this paper aims to illustrate the breadth of the policy choices and their consequences for restructuring activity. States should carefully design restructuring procedures to avoid the negative economic effects of certain options that could undermine creditors’ rights or result in unpredictable outcomes, particularly in cross-border cases.

Law Reforms around the World

Asif H Qureshi
Law Reforms around the World Book PDF

Author : Asif H Qureshi
Publisher : Taylor & Francis
Page : 365 pages
File Size : 51,6 Mb
Release : 2023-12-01
Category : Law
ISBN : 9781003813453

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Law Reforms around the World by Asif H Qureshi Pdf

Encapsulating Law Reform requires the creation of a discreet space occupied with normative self-generation, self-correction, and self-adaptation in the very anatomy of law and the architecture of legal systems. This ‘living dynamic trait’ should be a hallmark of the genetic material in the modern-day institution of law. This edited volume sheds light on Law Reform in its domestic, comparative, regional, and international settings. It examines the process of Law Reform and explains the need for a constant appraisal to keep its wheels optimally operational. The book takes a holistic approach to understanding Law Reform and calls for such an approach in the very process of Law Reform. It begins by looking at Law Reform processes from a theoretical perspective. Thereafter, it sheds light on domestic Law Reform processes in civil and common law legal systems. This is followed by a focus on Law Reform at the international level with a critical appraisal of the International Law Commission (ILC), drawing on its performance in international economic and environmental law. Included in this consideration is also the role played in Law Reform by the IMF, World Trade Organization/World Intellectual Property Organization, Multilateral Development Banks, and the African Union Commission on International Law. This volume should appeal to students, serious scholars, policy makers, judges, and the community of national and international lawyers interested in bringing effective reform in the national and international arenas.

Legal and Ethical Standards in Corporate Insolvency

Elizabeth Streten
Legal and Ethical Standards in Corporate Insolvency Book PDF

Author : Elizabeth Streten
Publisher : Taylor & Francis
Page : 172 pages
File Size : 42,6 Mb
Release : 2024-06-17
Category : Law
ISBN : 9781040037751

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Legal and Ethical Standards in Corporate Insolvency by Elizabeth Streten Pdf

Recent financial crisis and the global financial impacts of the COVID-19 pandemic have brought renewed interest to the regulation and practice of corporate insolvency and restructuring. Modernisation of the insolvency profession, and the regulation of its practitioners, is a contemporary concern and recent years have seen significant reforms of insolvency law. The success of such reforms can be enhanced through a clear understanding of difficulties faced by the insolvency profession in achieving successful restructuring and insolvency outcomes and through the determination of effective solutions to those difficulties. However, there is limited empirical data to inform the day-to-day practice of insolvency, nor the difficulties experienced by insolvency practitioners in pursing insolvency and restructuring solutions. This book addresses this absence of data and understanding, examining the role and practice of corporate insolvency practitioners and exploring the challenges that they encounter. Offering an empirical study together with a comparative analysis of the experiences of practitioners around the world, this book facilitates a greater understanding of corporate insolvency practice, confronting a misunderstanding of, and under-confidence in, corporate insolvency practitioners, making it key reading for academics, practitioners and regulators working in the area of corporate insolvency.

Greece

International Monetary Fund. European Dept.
Greece Book PDF

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 60 pages
File Size : 46,7 Mb
Release : 2019-11-15
Category : Business & Economics
ISBN : 9781513520278

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Greece by International Monetary Fund. European Dept. Pdf

This Selected Issues paper explores the links between wage policies, non-wage cost developments, and competitiveness. A series of program-era policies helped to partially reverse this trend, including labor market policies that cushioned the effect of the crisis on employment and brought unit labor costs broadly in line with trading partners. However, the resulting more competitive wage structure only partly translated into price adjustments due to product market rigidities (with firms retaining some profit margin) and rising non-wage cost factors (e.g., taxes and financing costs). This incomplete internal devaluation and subsequent low productivity gains reinforce the view that Greece has further to go to address its external imbalances. However, labor policy reversals following program exit in August 2018 threaten this objective. The paper shows that Greece must preserve its labor cost competitiveness while increasing efforts to facilitate price adjustment in product markets and reduce non-wage costs.

A Capital Market Union for Europe

Mr.Ashok Vir Bhatia,Ms.Srobona Mitra,Anke Weber,Mr.Shekhar Aiyar,Luiza Antoun de Almeida,Cristina Cuervo,Mr.Andre O Santos,Tryggvi Gudmundsson
A Capital Market Union for Europe Book PDF

Author : Mr.Ashok Vir Bhatia,Ms.Srobona Mitra,Anke Weber,Mr.Shekhar Aiyar,Luiza Antoun de Almeida,Cristina Cuervo,Mr.Andre O Santos,Tryggvi Gudmundsson
Publisher : International Monetary Fund
Page : 30 pages
File Size : 49,5 Mb
Release : 2019-09-10
Category : Business & Economics
ISBN : 9781498313278

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A Capital Market Union for Europe by Mr.Ashok Vir Bhatia,Ms.Srobona Mitra,Anke Weber,Mr.Shekhar Aiyar,Luiza Antoun de Almeida,Cristina Cuervo,Mr.Andre O Santos,Tryggvi Gudmundsson Pdf

This note weighs the merits of a capital market union (CMU) for Europe, identifies major obstacles in its path, and recommends a set of carefully targeted policy actions. European capital markets are relatively small, resulting in strong bank-dependence, and are split sharply along national lines. Results include an uneven playing field in terms of corporate funding costs, the rationing out of collateral-constrained firms, and limited shock absorption. The benefits of integration center on expanding financial choice, ultimately to support capital formation and resilience. Capital market development and integration would support a healthy diversity in European finance. Proceeding methodically, the note identifies three key barriers to greater capital market integration in Europe: transparency, regulatory quality, and insolvency practices. Based on these findings, the note urges three policy priorities, focused on the three barriers. There is no roadblock—such steps should prove feasible without a new grand bargain.

Strengthening the Euro Area

Mr.Romain A Duval,Mr.Shekhar Aiyar
Strengthening the Euro Area Book PDF

Author : Mr.Romain A Duval,Mr.Shekhar Aiyar
Publisher : International Monetary Fund
Page : 31 pages
File Size : 52,9 Mb
Release : 2019-06-13
Category : Business & Economics
ISBN : 9781498319744

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Strengthening the Euro Area by Mr.Romain A Duval,Mr.Shekhar Aiyar Pdf

The SDN will focus mostly on EA countries but also touch on other AEs for comparison purposes. The SDN will make several original contributions in each of the areas above based on new DSGE-model-based analysis, cross-country panel regressions, and individual-level (firm- or household-level) empirical work where appropriate.

Bulgaria

International Monetary Fund. European Dept.
Bulgaria Book PDF

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 66 pages
File Size : 52,9 Mb
Release : 2016-11-10
Category : Social Science
ISBN : 9781475552492

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Bulgaria by International Monetary Fund. European Dept. Pdf

This paper highlights Bulgaria’s state-owned enterprises (SOEs) sector and to assess its performance in a regional perspective. A detailed and rich firm-level dataset of state-owned and private firms was compiled for this note to compare key performance indicators of SOEs to private firms in the same sector and to similar firms in Croatia and Romania for a regional comparison. In some network industries, such as energy, SOEs are heavily loss-making. Large amounts of debt have been piled up notably in the energy and transport sectors which, to the extent that it is classified outside the general government accounts, can pose significant risk to public finances in the form of contingent liabilities if the SOEs run into financial difficulties. SOE profitability and resource allocation efficiency largely lag private firms in the same sectors, even when isolating SOEs engaged in competitive market activities and hence classified outside of general government. Coupled with comparably poor output quality, these challenges have the potential to impair competitiveness and productivity across the economy.

Policy Options for Supporting and Restructuring Firms Hit by the COVID-19 Crisis

Ms. Juliana Dutra Araujo,José Garrido,Emanuel Kopp,Mr. Richard Varghese,Weijia Yao
Policy Options for Supporting and Restructuring Firms Hit by the COVID 19 Crisis Book PDF

Author : Ms. Juliana Dutra Araujo,José Garrido,Emanuel Kopp,Mr. Richard Varghese,Weijia Yao
Publisher : International Monetary Fund
Page : 79 pages
File Size : 47,9 Mb
Release : 2022-02-23
Category : Business & Economics
ISBN : 9781513593463

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Policy Options for Supporting and Restructuring Firms Hit by the COVID-19 Crisis by Ms. Juliana Dutra Araujo,José Garrido,Emanuel Kopp,Mr. Richard Varghese,Weijia Yao Pdf

This paper presents principles that could guide the design of more targeted policy support and facilitate the restructuring of firms adversely impacted by the COVID-19 pandemic. To this end, the paper takes stock of vulnerabilities and risks in the enterprise sector and assesses countries’ preparedness to handle a large-scale restructuring of businesses. Crisis preparedness of insolvency systems is measured according to a newly designed indicator that includes five dimensions of the insolvency and restructuring regime (out-of-court restructuring, hybrid restructuring, reorganization, liquidation, and the institutional framework). Vulnerabilities tend to be more pronounced in jurisdictions with shortcomings in crisis preparedness, and those countries need to step up efforts to improve their insolvency systems.

Insolvency and Bankruptcy Reforms in India

Susan Thomas
Insolvency and Bankruptcy Reforms in India Book PDF

Author : Susan Thomas
Publisher : Springer Nature
Page : 198 pages
File Size : 53,5 Mb
Release : 2022-11-30
Category : Business & Economics
ISBN : 9789811608544

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Insolvency and Bankruptcy Reforms in India by Susan Thomas Pdf

This book is about the establishment of the Insolvency and Bankruptcy Code, in 2016, one of the most important new developments in Indian commercial law. The law has major implications for firms, their creditors, and a variety of the professional services that feed into the decisions of borrowers and lenders including lawyers, accountants and valuers. A new profession of insolvency professionals has come to exist owing to the law. There are several questions about bankruptcy reform in the mind of researchers, policy makers and practitioners. How has the reform progressed? How has it reshaped the incentives of firms? What are the difficulties faced? What are the optimal paths for borrowers and lenders and their advisors under the rubric of the law? How should laws and institutions be modified? The book has a unique set of chapters, by key people who have shaped the field which offer novel insights into these questions. The book has been edited by key people who have worked on bankruptcy reform since 2010. Dr. Sahoo has been the chairperson of the Insolvency and Bankruptcy Board of India since the establishment of this regulatory agency. Dr. Thomas was a member of the Bankruptcy Law Reforms Committee which drafted the IBC, and led the internal team of the BLRC which drafted the law. The book is an authentic and credible analysis of the happenings in the Indian insolvency and bankruptcy ecosystem from the start, with interest areas for international and domestic, economics/finance and law, researcher and practitioner communities.

2011 Review of the Standards and Codes Initiative - Reports on the Observance of Standards and Codes (ROSC) Case Studies

International Monetary Fund,World Bank
2011 Review of the Standards and Codes Initiative Reports on the Observance of Standards and Codes ROSC Case Studies Book PDF

Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 58 pages
File Size : 41,8 Mb
Release : 2011-02-16
Category : Business & Economics
ISBN : 9781498339315

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2011 Review of the Standards and Codes Initiative - Reports on the Observance of Standards and Codes (ROSC) Case Studies by International Monetary Fund,World Bank Pdf

This report is part of the 2011 ROSC Initiative review. It focuses on generating additional inputs for an informed assessment of the effectiveness of the Initiative in strengthening institutions in member countries. In particular, it analyses in detail a sample of twenty-two specific country experiences—at least two for each standard currently included in the Initiative. The review of specific country experiences with ROSC exercises—diagnosis and implementation of recommendations and follow-up—contributes to evaluate the extent to which ROSCs have been instrumental in identifying institutional weaknesses and contributed to promote financial reform and reduce financial vulnerability. This is an independent review prepared by an external consultant.

SME Policy Index: Eastern Partner Countries 2024 Building Resilience in Challenging Times

OECD,European Bank for Reconstruction and Development
SME Policy Index Eastern Partner Countries 2024 Building Resilience in Challenging Times Book PDF

Author : OECD,European Bank for Reconstruction and Development
Publisher : OECD Publishing
Page : 452 pages
File Size : 43,6 Mb
Release : 2023-12-13
Category : Electronic
ISBN : 9789264956445

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SME Policy Index: Eastern Partner Countries 2024 Building Resilience in Challenging Times by OECD,European Bank for Reconstruction and Development Pdf

The SME Policy Index: Eastern Partner Countries 2024 – Building resilience in challenging times is a unique benchmarking tool to assess and monitor progress in the design and implementation of SME policies against EU and international best practice.

Report of the Managing Director to the International Monetary and Financial Committee on the IMF's Policy Agenda

International Monetary Fund. Policy Development and Review Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Report of the Managing Director to the International Monetary and Financial Committee on the IMF s Policy Agenda Book PDF

Author : International Monetary Fund. Policy Development and Review Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 39 pages
File Size : 40,9 Mb
Release : 2003-11-04
Category : Business & Economics
ISBN : 9781498329507

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Report of the Managing Director to the International Monetary and Financial Committee on the IMF's Policy Agenda by International Monetary Fund. Policy Development and Review Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

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Cross-Border Insolvency Law

Bob Wessels,Gert-Jan Boon
Cross Border Insolvency Law Book PDF

Author : Bob Wessels,Gert-Jan Boon
Publisher : Kluwer Law International B.V.
Page : 1042 pages
File Size : 49,7 Mb
Release : 2015-09-24
Category : Law
ISBN : 9789041159953

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Cross-Border Insolvency Law by Bob Wessels,Gert-Jan Boon Pdf

Recent insolvency cases highlight the growing importance of cross-border insolvency matters in international transactions. In order to obtain relevant information essential for conduct in such transactions, an insolvency lawyer needs to have access to the many relevant instruments that have been introduced and implemented in recent years, but that until now have not been available in any single place. This very useful volume collects, for the second time in one source, all important international and regional legal instruments relating to insolvency of companies and consumers, as well as to corporate rescue law. The book includes international and regional conventions, model laws, EU regulations and directives, and guiding principles produced by various international bodies (such as the World Bank, the United Nations Committee on International Trade Law ('UNCITRAL'), the American Law Institute, INSOL International, and INSOL Europe), and international and European restatements of insolvency law by scholars. In addition to reproducing the complete texts of these instruments, the editors provide insightful commentary covering such important matters as the following: • key issues of each text; • expected amendments and revisions; and • comparative analysis of instruments. A unique resource bringing together core material in the field of cross-border insolvency law and legislation, this book will be welcomed by international insolvency practitioners worldwide.